Equity Indexes Testing Resistance

On Wednesday, July 27, 2022, the FOMC raised the Fed Funds rate for the fourth time this year. The next day, the Bureau of Economic Analysis¬† (BEA) announced that the 2022 Second Quarter GDP declined by 0.9%. Finally, to close out the week, the BEA reported that the Core PCE rose by 4.8% from a…

Morning Notes – Tuesday, August 2, 2022

Directional Bias For The Day: S&P Futures are lower at 9:00 AM; trending down since 10:30 AM on Monday The first nine days of August are historically weak (Stock Trader’s Almanac) The odds are for a down day with elevated volatility – watch for a break above 4106.50 and above 4122.25 for a change of…